Any business that sells goods or services online has to take control of chargebacks. If a business has too many chargebacks can break their bottom line and reputation among credit card merchants and processors. Let’s start with the basics, what are chargebacks ?

Reducing Chargeback
To ensure your chargeback percentage stays at the bare minimum, take steps to ensure customers know what they are being charged for and what to expect. Be transparent with your services, products and fees. Your website should indicate the costs that customers will pay, after how long they should expect a product, any guarantees or warranties on the product, shopping refunds or return policy and so on.
Apart from this, be innovative and research customer behavior. If there has been an increase in chargebacks within a particular time, perhaps there is something wrong with your product. Understanding your customers behavior can help you avoid many chargebacks.

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2 comments

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